Global Economy? 23 Facts Which Prove That Globalism Is Pushing
The Standard Of Living Of The Middle Class Down To Third World
Levels

The Economic Collapse
Feb 28, 2011

From now on, whenever you hear the term “the global economy” you
should immediately equate it with the destruction of the U.S.
middle class.

Over the past several decades, the American economy has been
slowly but surely merged into the emerging one world economic
system. Unfortunately for the middle class, much of the rest of
the world does not have the same minimum wage laws and worker
protections that we do. Therefore, the massive global
corporations that now dominate our economy are able to pay
workers in other countries slave labor wages and import the
products that they make into the United States to compete with
products made by “expensive” American workers. This has resulted
in a mass exodus of manufacturing facilities and jobs from the
United States.

But without good, high paying jobs the U.S. middle class cannot
continue to be the U.S middle class. The only thing that the
vast majority of Americans have to offer in the economic
marketplace is their labor. Sadly, that labor has now been
dramatically devalued. American workers now must directly
compete for jobs with millions upon millions of workers on the
other side of the world that toil away for 15 hours a day at
slave labor wages. This is causing jobs to leave the United
States at an almost unbelievable rate, and it is putting
tremendous downward pressure on the wages of millions of jobs
that are still in the United States.

So when you hear terms such as “globalization” and “the global
economy”, it is important to keep in mind that those are code
words for the emerging one world economic system that is
systematically wiping out the U.S. middle class.

A one world labor pool means that the standard of living for the
U.S. middle class will continue falling toward the standard of
living in the third world.

We keep hearing about how the U.S. economy is being transformed
from a “manufacturing economy” into a “service economy”. But
“service jobs” are generally much lower paying than
“manufacturing jobs”. The number of good paying “middle class
jobs” in the United States is rapidly decreasing. So how can the
U.S. middle class survive in such an environment?

What makes things even worse for manufacturers in the United
States is that other nations often impose a “value-added tax” of
20 percent or more on U.S. goods entering their shores and yet
most of the time we do not reciprocate with similar taxes.

But whenever someone mentions how incredibly unfair and
unbalanced our trade agreements with other nations are, they are
immediately labeled as a “protectionist”.

Well, someone should be looking out for U.S. interests when it
comes to trade, because the current state of the global economy
is ripping the U.S. middle class to shreds.

Right now, the United States consumes far more wealth than it
produces. This nation buys much, much more from the rest of the
world than they buy from us. This is called a “trade deficit”,
and it is one of the most important economic statistics. The
U.S. runs a massive trade deficit every single year, and it is
wiping out our national wealth, it is destroying our surviving
industries and it is absolutely shredding middle class America.

We cannot allow tens of thousands of factories to continue to
leave the United States. We cannot allow millions of jobs to
continue to be “outsourced” and “offshored”. We cannot allow
tens of billions of dollars of our national wealth to continue
to be transferred into foreign hands every single month.

The truth is that the global economy is bad for America. The
following are 23 facts which prove that globalism is pushing the
standard of living of the middle class down to third world
levels….

#1 From December 2000 to December 2010, the U.S. ran a total
trade deficitof 6.1 trillion dollars.
#2 The U.S. trade deficit was about 33 percent larger in 2010
than it was in 2009.

#3 The U.S. trade deficit with China in 2010 was 27 times larger
than it was back in 1990.

#4 The U.S. economy is rapidly trading high wage jobs for low
wage jobs. According to a new report from the National
Employment Law Project, higher wage industries accounted for 40
percent of the job losses over the past 12 months but only 14
percent of the job growth. Lower wage industries accounted for
just 23 percent of the job losses over the past 12 months and a
whopping 49 percent of the job growth.

#5 Between December 2000 and December 2010, 38 percent of the
manufacturing jobs in Ohio were lost, 42 percent of the
manufacturing jobs in North Carolina were lost and 48 percent of
the manufacturing jobs in Michigan were lost.

#6 In Germany, exports account for approximately 40 percent of
GDP. In China, exports account for approximately 30 percent of
GDP. In the United States, exports account for approximately 13
percent of GDP.

#7 Do you remember when the United States was the dominant
manufacturer of automobiles and trucks on the globe? Well, in
2010 the U.S. ran a trade deficit in automobiles, trucks and
parts of $110 billion.

#8 In 2010, South Korea exported 12 times as many automobiles,
trucks and parts to us as we exported to them.

#9 The U.S. economy now has 10 percent fewer “middle class jobs”
than it did just ten years ago.

#10 The United States currently has 7.7 million fewer payroll
jobs than it did back in December 2007.

#11 Back in 1970, 25 percent of all jobs in the United States
were manufacturing jobs. Today, only 9 percent of the jobs in
the United States are manufacturing jobs.

#12 In 2002, the United States had a trade deficit in “advanced
technology products” of $16 billion with the rest of the world.
In 2010, that number skyrocketed to $82 billion.

#13 The United States now spends more than 4 dollars on goods
and services from China for every one dollar that China spends
on goods and services from the United States.

#14 In China, working conditions are so bad that large numbers
of “employees” regularly try to commit suicide. One major
employer, Foxconn, has even gone so far as to install
“anti-suicide nets” in an attempt to keep their employees from
jumping off of their buildings.

#15 Wages for workers in China are incredibly low. For example,
one facility in the city of Longhua that makes iPods employs
approximately 200,000 workers. These workers put in endless
15-hour days but they only make about $50 per month.

#16 In Bangladesh, manufacturing workers toil in absolutely
horrific conditions and make an average of about $38 per month.

#17 In Vietnam, teenage workers often work seven days a week for
as little as 6 cents an hour making promotional Disney toys for
McDonald’s.

#18 Since 2001, over 42,000 manufacturing facilities in the
United States have been closed.

#19 Half of all American workers now earn $505 or less per week.

#20 In the United States today, 6.2 million Americans have been
out of work for 6 months of longer.

#21 8.4 million Americans are currently working part-time jobs
for “economic reasons”. These jobs are mostly very low paying
service jobs.

#22 When you adjust wages for inflation, middle class workers in
the United States make less money today than they did back in
1971.

#23 According to Willem Buiter, the chief economist at
Citigroup, China will be the largest economy in the world by the
year 2020, and India will surpass China by the year 2050.

Those that promote “free trade” can never explain how the U.S.
middle class is going to continue to have plenty of jobs in the
new global economy.

By merging our labor pool with the rest of the world, we have
also merged our standard of living with the rest of the world.
High unemployment is rapidly becoming “the new normal” in
America, and wages are going to continue to decline in many,
many industries.

Already, there are quite a few formerly great U.S. cities (such
as Detroit) that are beginning to resemble third world
hellholes. If something is not done about our massive trade
imbalance, even more cities are going to follow Detroit into
oblivion.

Unfortunately, most of our politicians continue to insist that
globalism is good for our society. They continue to insist that
we should not be worried that jobs formerly done by middle class
American workers are now being done by slave laborers on the
other side of the globe. They continue to insist that having 43
million Americans on food stamps is a temporary thing and that
soon our economy will be better than ever.
Well, it is time to stop listening to the politicians that are
promoting “the global economy”. They are lying to us.

Globalism is great for nations such as China and it is helping
multinational corporations make huge profits, but for the U.S.
middle class it is an economic death sentence.

If you want an America where there are less jobs, where more
Americans are on food stamps and other anti-poverty programs and
where our cities continue to be transformed into
deindustrialized hellholes, then you should strongly support the
emerging global economy.